Mantle, a major player in on-chain finance, and Republic Technologies, the Ethereum treasury of Beyond Medical Technologies Inc., have teamed up to bring mETH, a liquid staking token, into the institutional investment world. This marks a significant step forward for crypto adoption by large companies.
mETH Makes History
This partnership makes mETH the first liquid staking token held on the balance sheet of a publicly traded company. Republic Technologies will allocate a substantial portion of its ETH holdings to Mantle’s mETH Protocol, benefiting from the yield and liquidity it offers. This shows a big shift in how institutions are approaching digital assets.
Republic Technologies: An Ethereum-Focused Treasury
Republic Technologies is taking a different approach than many other firms, focusing on Ethereum rather than Bitcoin. They see Ethereum as the core infrastructure for smart contracts and decentralized finance. By holding ETH, they’re supporting their healthcare technology businesses while giving shareholders exposure to digital assets. This strategy is attracting attention from traditional financial markets.
Republic Technologies CEO Daniel Liu stated, “We believe Ethereum is the institutional blockchain, with ETH as the fuel for global finance. Our involvement with Mantle’s Scout program led us to mETH, and it’s a natural fit.” He highlighted the growing adoption of Ethereum by major players like BlackRock, PayPal, and Visa.
Mantle’s mETH Protocol: A Leader in Liquid Staking
Mantle’s mETH Protocol has seen incredible growth, surpassing $1 billion in total value locked (TVL) in just 66 days. It’s designed for institutional use, offering high efficiency and composability. A significant amount of mETH has already been restaked into EigenDA, securing Mantle’s data availability layer. The protocol works with leading infrastructure providers to ensure reliability.
Jonathan Low, growth lead at mETH Protocol, emphasized mETH’s ability to support institutional strategies built on Ethereum, stating that they’re focused on building trustworthy infrastructure for long-term investors.
Future Plans: MI4 and Mantle Banking
This partnership comes ahead of mETH’s inclusion in MI4, a yield-focused index fund. MI4 aims for $1 billion in assets under management and will offer exposure to various cryptocurrencies, with mETH playing a key role in its ETH allocation.
Mantle is also working on Mantle Banking, which will integrate mETH into traditional financial systems, allowing users to use mETH for everyday transactions, borrowing, and investing.
About Mantle
Mantle is building a comprehensive on-chain ecosystem that bridges traditional and decentralized finance, offering products like Mantle Network, mETH Protocol, and MI4. They aim to create a unified platform for financial services in the Web 3.0 era.
